Five-Unit Multifamily Property in
3420 Harrison Ave, Rockford, IL 61108
Call to check price and availability
Fully occupied five-unit residential property with immediate cash flow.
Type:Multifamily
Property size:
6,600 SFPrice / SF:
$105/SF- Added:
- Feb 24, 2026
- Days on Market:
- 81
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 3420 Harrison Ave
General Information
- Standard status
- Active
- Size
- 6,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing agent Nathan Bryant License #IL 471.013468
Listing office Bryant Commercial Group (815) 218-1371
Listing date Feb 24, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Bryant Commercial Group
HighLights
- Immediate and dependable cash flow from acquisition due to 100% occupancy.
- Five residential units, each with a desirable 3 bedroom, 1.5 bath layout.
- Proven strong performance in the workforce housing segment.
- Seasoned tenant base in place.
- Located in Rockford, which demonstrates steady workforce housing demand.
- Attractive for both private investors and portfolio operators seeking stabilized returns.
Overview
The property features five residential units, each with a 3-bedroom, 1.5-bath layout. The unit type is suited for workforce housing. The property is 100% occupied with a seasoned tenant base, providing immediate and dependable cash flow. The property is located in Rockford, which demonstrates steady workforce housing demand. The property is suitable for private investors and portfolio operators seeking stabilized returns. The property size is 6,600 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$418.2K
NOI $37,636 @ 9.00% cap · cautious / downside scenario
Moderate
$537.7K
NOI $37,636 @ 7.00% cap · market / base-case scenario
Aggressive
$752.7K
NOI $37,636 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.3k | $10.80 |
| − Vacancy | −$2.9k | −$0.43 |
| EGI | $68.4k | $10.37 |
| − OpEx | −$30.8k | −$4.67 |
| NOI | $37.6k | $5.70 |
6,600 SF · lease $10.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$537.7K
$470.5K – $627.3K
NOI $37,636 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,887 @ 7.0% cap · market cap 17.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Rockford
- County
- Winnebago
- State
- Illinois
- Longitude
- -89.0414505
- Latitude
- 42.2383603
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied five-unit residential property with immediate cash flow.
Where is this apartment building located?
The property is located at 3420 Harrison Ave Rockford, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Immediate and dependable cash flow from acquisition due to 100% occupancy.; Five residential units, each with a desirable 3 bedroom, 1.5 bath layout.; Proven strong performance in the workforce housing segment.
